NEW INTEL CEO LIP-BU TAN WILL PICK UP WHERE PAT GELSINGER LEFT OFF

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Lip-Bu Tan will become the CEO of Intel on March 18. Former CEO Pat Gelsinger was booted from the position on December 2 after several quarters of losses, rounds of layoffs, and canceled or spun-off side projects. Tan was previously on Intel's board from 2022 to 2024 and has been a board member for several other technology and chip manufacturing companies. Intel reported a loss of $18.76 billion in 2024, its first annual loss since 1986.